Living the single life no longer is an anomaly: According to the U.S. Census Bureau, 45 percent of households nationwide are maintained by a single person. Being single affects many areas of financial planning, including retirement, health care later in life and other key issues.

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If you are single or expect to be as a result of a pending divorce, consider the following as you plan your finances.

Retirement

An increasing percentage of pre-retirees are planning for retirement on their own. What steps should solo planners take to shore up their finances for a comfortable retirement?

Set long-term retirement savings goals. If you have access to an employer-sponsored retirement plan, contribute as much as you can afford.

Consider funding an IRA. This is another tax-advantaged way to save for retirement.

Invest as much as you can afford over the long term. This is beneficial because you will not have the luxury of falling back on a partner’s income. In addition your household will have only one Social Security check.

Parenting

Fund for your children but don’t forget yourself. You may be required to fund tuition, child care, and other costs on one salary. As you raise your family, be sure not to short-change your needs. Put away something for retirement, even if it is only a small amount each week. Over time this may compound and serve as the basis of your retirement nest egg.

Insurance and Health Care

Review your options for disability insurance. It is critical to consider purchasing this type of insurance while you are healthy and the premiums are affordable. This insurance purchased either through work or individually increases the chance that you will have adequate cash flow if you are not able to work because of disability.

Prepare for health care expenses. You may need to have adequate health care insurance and to direct a lawyer to draft a health care proxy in which you designate a loved one to make medical decisions on your behalf if you are not able to do so yourself.

Housing

Think carefully about the type of housing that suits your needs. Carrying a single family home, especially in an expensive housing market, frequently is difficult on one income. Be sure your home is affordable enough to permit you to invest for retirement and meet other financial goals.